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He told ATG last week that the shipbuilding in Seattle had fallen behind schedule largely due to “some of the worst weather in the city for 100 years”.

However, SeaFair left Seattle some weeks ago and passed through the Panama Canal to Florida where it is now having its interior fitted out to the luxury standards Mr Lester feels is vital for this ambitious venture.

SeaFair’s maiden voyage was initially scheduled for Florida in January but a shortage of steel was one of the reasons cited for the late completion and the postponement to June.

Now the fine art yacht will be unveiled at Boston on September 5 and will then sail to Greenwich and Oyster Bay.

Mr Lester insists that with such a major investment, there must be no short cuts in such procedures as training of staff. He said that the top end dealers he has signed up welcome the postponement and feel “more comfortable with a launch in the fall.”

By David Moss